SOGAZ Insurance Group has won the open tender for the right to insure the employees of OJSC First Generating Company of the Wholesale Electricity Market (OJSC OGC-1).

According to the tender results, SOGAZ will provide health and accident insurance to the employees of the headquarters and branches of OJSC OGC-1. Altogether, SOGAZ will insure over 4,400 people.

The insurer’s aggregate liability limit amounts to over RUB 258 million. OJSC OGC-1 is the largest wholesale thermal power generating company created in the course of restructuring the Russian power sector.

The First Generation Company of the Wholesale Electricity Market (OGC-1) is the largest wholesale thermal power generating company. The total installed capacity of OGC-1 power plants is 9,531 MW. All of them are included in the Urals and Center United Energy System. They include Permskaya GRES, Verkhnetagilskaya GRES, Kashirskaya GRES, Urengoyskaya GRES, and Iriklinskaya GRES. Two power generating units currently in operation at Nizhnevartovskaya GRES have been included into the authorized capital of CJSC Nizhnevartovskaya GRES, whose shares are owned by NVGRES HOLDING LIMITED (NHL). 75 percent minus 1 share in NHL’s authorized capital belong to OJSC OGK-1, 25 percent plus 1 share belong to TNK-BP.
Currently, the authorized capital of OJSC OGС-1 amounts to RUB 25,660,014,425.40804; the company has issued 44,643,192,918 ordinary shares at RUB 0.57478 each. OGC-1 shares are traded on MICEX (OGK1) as well as at RTS classical and exchange markets (OGKA and OGKAG respectively).
On March 17, 2009 the management of the rights attached to 61.9 percent of voting shares of OGC-1 was transferred to OJSC INTER RAO UES. The rights attached to the shares of OGC-1 were placed into trust for the period of 5 years with the right for prolongation for the same period. As of June 6, 2009, the powers of the sole executive body of OJSC OGC-1 were also transferred to OJSC INTER RAO UES.